At the time, Osofsky was reported in the Telegraph as saying that the pledge fitted in with May’s plan to show that Britain was a safe place to do business post Brexit.

“By combining them [May] is creating a body that goes after risks that threaten national security such as money laundering from major crime and even terrorism,” she said.

Green, who had headed the SFO since 2012, stepped down from the role of director last month. In 2016, his term was extended by two years, the standard extension under Cabinet Office guidelines.

Reaction from the legal profession

Louise Hodges, head of criminal litigation at Kingsley Napley LLP, welcomed the “novel appointment”, saying it will bring “new insight and fresh thinking” to the organisation. She predicts Osofsky’s prosecution experience in the US could mean an increase in Deferred Prosecution Agreements, where settlements and deals are more common.

Alistair Graham, partner at Mayer Brown, is equally positive. “A dynamic, successful woman, taking a key appointment in this stage of her career suggests that this is not just a job for her – but a mission to achieve change.”

However, the question everyone is asking, says Hodges, is whether Osofsky will stand up to and protect the SFO from political interference.

“Her success is important to the future prosecution of business crime in this country and for the message we send internationally about the UK’s attitude to corporate crime,” said Hodges.

Graham asks whether her previous statements on merging the SFO with the NCA mean that it is “all change ahead”.